WEST WITS MINING LIMITED — Capital/Financing Update 2021

Nov 29, 2021

WEST WITS MINING LIMITED ABN 89 124 894 060 ASX:WWI

E info@westwitsmining.com P +61 3 8692 9049 F +61 3 8692 9040

A Level 6, 400 Collins Street, Melbourne, VIC Australia 3000

Tuesday, 30 November 2021

Dear Shareholder,

WEST WITS MINING LIMITED – RIGHTS ISSUE

West Wits Mining Limited [ACN 124 894 060] (ASX:WWI) ( WWI or the Company ) announced to ASX on 17 November 2021 that it will be conducting a pro-rata non-renounceable rights issue to allow Eligible Shareholders (defined below) the opportunity to apply for one new ordinary WWI share ( New Share ) for every six ordinary WWI shares held at the Record Date (defined below) and issue price of $0.03 (3 cents) per New Share to raise approximately $7.86 million before costs ( Rights Issue ).

The Rights Issue offer is only made to holders of ordinary shares in the Company who have a registered address in Australia or New Zealand as at 7:00pm (Melbourne time) on 26 November 2021 ( Record Date ) ( Eligible Shareholders ).

The Company is conducting the Rights Issue pursuant to an offer booklet under section 708AA of the Corporations Act that the Company released to ASX on 22 November 2021 ( Offer Booklet ).

As noted in the Offer Booklet, the Rights Issue is approximately 97% underwritten ($7,600,000.11, being 253,333,337 New Shares) by Evolution Capital Pty Ltd ( Underwriter ).

In the event that, following the close of the Rights Issue, a shortfall of New Shares remain, the Directors, in consultation with the underwriter, reserve the right to place New Shares from the shortfall as described in the Offer Booklet.

The Company will use the proceeds of the Rights Issue as set out in the Offer Booklet released to ASX. Further details of the Rights Issue are set out in the Offer Booklet and Appendix 3B released to ASX.

In accordance ASX Listing Rule 7.7.1(b), WWI hereby advises that it will not be offering New Shares under the Rights Issue to you. You will not be receiving a copy of the Offer Booklet and the entitlement and acceptance form and New Shares under the Rights Issue will not be offered or made available to you.

If you have any questions please do not hesitate to contact the Company via email to swhyte@WestWitsMining.com.

Yours sincerely,

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Simon Whyte Joint Company Secretary and CFO